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“Expensive restaurants are a burden, I don’t meet friends”… Gen Z hit by ‘Friendflation’
🇰🇷 South Korea /Culture & Society

“Expensive restaurants are a burden, I don’t meet friends”… Gen Z hit by ‘Friendflation’

From Dong-A Ilbo · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

In-depth Sources not specified Context piece
  • A survey found that 93% of South Korean Gen Z respondents find meeting friends costly due to inflation, with 49.1% feeling this burden frequently.
  • Consequently, 71.2% have reduced spending on social gatherings, primarily by decreasing the frequency of meetups (83.9%).
  • The study highlights that Gen Z increasingly weighs the cost of relationships against their perceived value, considering time, money, and emotional energy.

Rising prices are reshaping social interactions among South Korea's Generation Z, leading to a phenomenon dubbed 'friendflation.' A recent survey reveals that a significant majority, 93%, of Gen Z individuals (born between 1995 and 2010) find the costs associated with meeting friends, such as dining and coffee expenses, to be a financial burden. Nearly half of them, 49.1%, experience this pressure frequently.

93% of respondents felt burdened by the cost of meeting friends or gatherings due to inflation.

— Alba Cheonguk SurveyReporting the survey's key finding on the financial impact of inflation on social life.

This financial strain has translated into tangible changes in behavior. Over 71% of respondents reported cutting back on spending for social gatherings in the past year. The most common strategy, cited by 83.9%, was simply reducing the number of times they meet friends. Additionally, 27.3% have curbed spending on dining out, and a substantial 64.6% stated they do not meet friends even once a week.

49.1% said they 'often feel' this burden.

— Alba Cheonguk SurveyDetailing the frequency of the financial burden felt by Gen Z.

The primary cost drivers identified were meal expenses (78.4%), followed by coffee and dessert (40.1%), and alcoholic beverages (29.7%). A psychological threshold for spending per meetup appears to be around 50,000 won (approximately $36 USD), with about a third of respondents feeling burdened by spending more than this amount in a single encounter. Actual spending typically falls within the 30,000 to 50,000 won range.

71.2% reduced spending related to meeting friends or gatherings in the past year.

— Alba Cheonguk SurveyQuantifying the reduction in social spending.

Experts suggest that 'friendflation' is more than just a reaction to high inflation. It reflects a broader trend among Gen Z to meticulously optimize their spending, considering not only money but also time and emotional energy. This generation views relationships as an investment, carefully evaluating whether the perceived value of a friendship justifies the associated costs. This shift could create new market opportunities for businesses offering low-cost social activities or community programs.

83.9% cited 'reducing the number of meetings/gatherings itself' as the method for cutting expenses.

— Alba Cheonguk SurveyExplaining the primary way Gen Z is reducing social spending.
DistantNews Editorial

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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